According to Stratistics MRC, the Global Gas Analyzer market is expected to grow from $3.26 billion in 2017 to reach $5.32 billion by 2026 with a CAGR of 6.8%. Increasing government's stringent safety & environment regulations and growing demand for oil and gas in developing economies are some of the key factors fuelling the market growth. However, technical issues and cost factors are hampering the market growth.

Gas analyzers are extensively used in upstream, midstream, and downstream sector of oil and gas industry. They are used for detecting gas purity, contamination analysis, compositional analysis, and hydrocarbon analysis. Moreover, the increasing demand for natural gas and subsequent natural gas production activities will contribute to the demand of gas analyzers in oil and gas industry.

North America is leading the gas analyzers market owing to the low crude oil and natural gas prices, increasing investments in chemicals and petrochemicals plants in the US. Additionally, the rising demand for power in emerging economies will also aid growth of the market in this region.